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Gold/Mining/Energy : American International Petroleum Corp
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To: Razorbak who wrote (86)6/22/1997 10:47:00 PM
From: Sergio H   of 11888
 
Razor, this little dog is beginning to look as confusing as Fonar. The annual report really pissed me off. AIPN has come out with several positive news items and the stock has not moved. I didn't do any due
diligence and then read about AIPN in the annual report. This is a completly different stock than what I bought.
AIPN has sold its main income procucer for some cash and stock in the purchasing company that quickly halved in price. They've bought drilling right in Kazakhstan after allowing their initial options to expire worthless. They have decided not to lease their refinery as was done in the past (with no cash to show for the prior lease) and produce asphalt at 20% of the plant's capacity.
This is what we've discussed so far. Dig deeper and look at the financials and the story does not improve.
Sergio
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